BET repeating patternBET is following almost exactly the price movements it made in 2017 before a massive 80% crash.
A possible Risky 50% gain on the final UTAD stage before price depreciation.
BET trade ideas
BET - Bullish Trade PlanBET has pulled back lower but has shown good support at the 200 SMA so far. Currently it is consolidating but i would be a buyer if it manages to hold at the current levels and show bullish price action. My target would be $1.140 level, its first Resistance level for a potential gain of 22%.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:BET- could it be so simple?One of my favorite ASX stocks, which had an extremely bullish run at the start of this year (2021).
Once an offer was made public buy ASX:TAH(Tabcorp) on 28/05/2021, stock prices plummeted.
It appears that we have found a bottom of that massive price decent, and are starting to look bullish again (higher highs and lower lows).
Could this run be as strong as the last? I hope so!
DYOR
Bet needs to break above 1.12 to start a consolidation phase.On watch for a break and retest of 1.12. I believe its been hit hard from selling and SP is trying to change direction. As expected huge support at $1 so a stop at the 98c if you want to risk an entry here. Will eventually be a good buy again for a short term and long term trade. But recent discussions on this stock have made me second guess holding long term currently. Better stocks out there in my opinion.
BET out of channel, buy the rumour sell the news in full force.Hell of a sell off for BET, quite a suprise to be honest. Dont know how it will play out next week but given the volume i feel like its going to be a risky couple of weeks for short term traders here.
If i had to have an opinion on the news, i feel that a company of BET's market cap couldnt afford TAH.. but i like what Tripp is bringing to the table.
Definetly good buying at the $1.20 range, but to risky right now for me given the buy and sell volume of last 2 days.
*could be nothing, but risk v reward here isnt worth new entries.
Bet has been respecting channel since new uptrend started.Although im no longer in bet long term, im suprised on how nice the bet chart has been this year, even during the sell off last week. Its been an easy short term trade with stops just under the trendline. I constantly thought through volume that bet was extended, but its just been a clean hold for whoever has been holding it.
I had a target of $1.50, and now that its been hit i dont know how much further it could go.. based off TA, there might be a break out of the top trend line here, followed by a couple weeks of sell off to test bottom trend line again.
Bet is solely a short term trade here for me now, ill look for an entry at bottom trend line.
Beautiful chart though 👌
Bet due for a pull back hereAll an opinion here. Im fully out of BET, will look to re enter either with a matt tripp announcement or a hit of a buy order at 1.20. Still good for a long term hold if youre in it, quarterly and recent cap raise and partnerships means they are cashed up for a long time. Im just looking at the chart here and the stairway to heaven is looking top heavy and due for some side ways or a healthy pull back here. For me personally there will be better entries. * i look at support and resistance most of the time and support here is at 1.19.*
A good strong uptrend.Another stock that I have recently seen some discussion on is ASX listed BetMakers Technology group.
Looking at the daily charts, it appears that BET has been printing new highs since Mid Feb, where it broke out of consolidation after crossing the 20 and 50 day MAs 9 and 8 Feb respectively, since then the stock a large break out following a gap up on 17 Feb (around a week out from earnings), before the gap was closed up on earnings release on 26 Feb. Following earnings, the price tracked along the 20 Day MA. Throughout March and April the 20 and 50 day MA's almost look parallel, but the price has been pulling sharply away from the 20 Day MA.
In summary, the trend on this stock looks strong, but I'd be looking for a pull back to around the 20 Day MA for entry, even if it's intraday. Based on what I'm seeing on the chart, I'd expect the uptrend to continue.
As always take this as educational advice only and ensure that if you trade this stock, set an appropriate stop and position size according.
Cheers
Nick the Trader Guy
Check out my blog at www.nickthetraderguy.com, I post a weekly narrative about my journey and regular thoughts about the markets.
Bet to follow channel path.Bullish on bet to get to $1.50 by end of May, will possibly play out according to the channel. A break above channel will see it move quite quickly to $1.40 i feel before pulling back to $1.20 and consolidating slowly moving up again. Personally, price action is feeling a little weak, so a pullback now to the $1.08 mark or consolidation here for a week will be ideal. Wouldnt recommend an entry here, wait for a better entry based off channel.
Big break for bet on volume. Watch for a follow through now.Big buying volume first hour followed by selling with less then half the volume. Good signs for bet to probably end at or above 1.13 today. Big support at 1.05, entry here at $1.08 with a stop at 0.99c. I have a big target for bet, i dont want to jinx it due to large SP growth over the past year, but i believe it could be a $2 stock by end of year.
How i see Bet playing out the next 2 weeksBet closed green on a red friday, pretty happy with how its holding up. I feel on monday it will break up and test recent highs, before having a small pullback or consolidation for a week, before moving upwards again.
I have a $1.20 target by end of march, with a $1.50 target by end of June.
Stop loss at 80c and trailing stop loss at 20c from highs once it crosses $1.
Bet bounce off 43EMA on dailyLooking for a follow through tomorrow. Ive been a holdee of bet since before its first cap raise of 60c. I think 2021 will be a huge year for BET based off their recent news/US goals. They say follow the money, and i feel based off the chart, both weekly and daily, BET can get to $1.50 before any consolidation is needed.
Entry now would be 80c stop loss with a trailing stop loss of 20c once bet crosses the $1 mark again.
Longing on ASX:BET - uptick started todayThe ASX market appears to be heating up.
Following on my other thesis on ASX marketing such as ASX:APT , ASX:CCP and ASX:Z1P , the other pick which I expect to see a lot of actions is ASX:BET .
There are a few catalysts for BET during the few weeks:
1. It has just completed a round of SSP with over subscription hotcopper.com.au
2. Its price action has started an upward trend ever since the Dec 2nd with large transaction vol on that day, and showing consolidation ever since.
3. Contrast with the Gaming/Online Sport books in the US market, most of which has gone up 30-50% since Dec, the deregulation of online sport betting in the US market should benefit BET as well.
4. The upward candle of Jan 21st apparently is testing its all time high at 0.795.
I am expecting BET to hit the 0.995 range before its earning release on Mar 2nd.
Full disclosure, I put my $$ behind my thesis and just built a position @ 0.77 with a 10% stop loss @ 0.7.
BET - Pre Earnings SqueezeAustralian betting technology provider Betmakers is a few days away from its 2020 earnings announcement (27th August). Where is the market expecting the SP to go with Wednesdays announcement?
The last 2 weeks has shown the stock enter a significant compression phase with Bollinger Bands contracting inside the Keltner Channel in a TTM Squeeze formation.
Trading volumes are down for the last fortnight
The market is clearly taking a pause in anticipation.
As at today the TTM Squeeze indicator show market forces in the balance......however
On Balance volume as continued to rise over the last 2 weeks and the 8 day EMA has recovered ground against the 21 day EMA
Which way will the market move?
Unless the earnings report has a significant negative surprise then I expect a short term bump in price into the 0.50 range.
With a positive surprise, such as acquisition of new revenue sources, then a larger jump could be on the card.
With a Stop Loss at 0.395 to catch a large negative swing, I am betting on a positive jump in price by Friday 28th and into the following weeks.
cheers BT
(always DYOR)
$BET:ASX - BETMAKERS TECHNOLOGY - Up 800% over 12 months.BET has been having quite a nice run and is back up around 140% over the last month. With real world sporting events being mostly shut down, looks like BET is benefiting from the fantasy wagering space. Worth a watch.
Betmakers Technology Group Ltd. engages in online gaming and wagering services. It operates through the following segments: Fantasy Wagering and Wagering, Content Services, and Corporation. The Fantasy Wagering and Wagering segment refers to an online wagering platform which utilizes proprietary technology across risk management systems, odds management, content delivery, and consumer facing platforms. The Content Services segment deals with a free and premium content platform, which enables customers to seamlessly access a range of sporting, and racing content. The Corporate segment includes head office costs. The company was founded by Todd Buckingham on June 27, 2013 and is headquartered in Newcastle, Australia.
